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A Tamworth, New South Wales mortgagee home has been sold for $230,000.
Situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-tamworth-132926730" target="_blank">70 Church Street</a>, Bryan Bolitho of Raine and Horne Tamworth were marketing the house.
The weatherboard and iron cottage consists of three bedroom, one bathroom, updated kitchen and study or office.
It also features open fireplace and rear access with room for sheds or garage. 
The home is situated in Central West within walking distance to the CBD.
It was last sold in 2012 for $227,500. 
 
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Tamworth, NSW mortgagee home sold for minor profit

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A Burwood, Victoria unit listed for mortgagee sale after an unsuccessful auction on May 23, is now under offer. 
The two-bedroom two-bathroom apartment, located at<a href="https://www.realestate.com.au/property-apartment-vic-burwood-133452522"> G14A/399 Burwood Highway</a>, is perfect for downsizers and investors. 
It is seeking $439,000.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-05-14%20at%202.43.39%20pm.png" alt="">
Within close proximity to the No.75 tram and Deakin University, this property will be ideal for students. 
The large entertaining balcony enjoys a Westerly view and the home features an open plan kitchen. 
Harcourt’s Vasil Metelovski holds the property listing. 
The median unit price for<a href="/news"> Burwood</a> is $752,000, according to data from CoreLogic. 
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Mortgagee unit in Burwood under offer after unsuccessful auction

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A Western Australian mortgagee home in Gosnells has been listed for sale with hopes of $215,000.
The three-bedroom, one-bathroom home includes a study and a stand alone carport.
Located at <a href="https://www.realestate.com.au/property-duplex+semi-detached-wa-gosnells-133721930">103A Wheatley Street</a>, the property is located close to amenities and was last traded for $128,000 in 2001. 
The listing is held by LJ Hooker's Rick Rispoli. 
The median price for a house in <a href="/news">Gosnells</a> is $275,000, according to CoreLogic data.
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Gosnells, Western Australia mortgagee home listed

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GUEST OBSERVER
 
Over the past week, we’ve seen a spike in the number of COVID-19 infections among health-care workers in Victoria.
This includes a doctor at Melbourne’s <a href="https://amp.theage.com.au/national/victoria/deeply-concerned-doctor-at-melbourne-hospital-tests-positive-to-coronavirus-20200708-p55a2p">St Vincent’s Hospital</a>, one staff member at <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-07-08/melbourne-hospital-and-aged-care-facilities-coronavirus-cases/12435286">Brunswick Private Hospital</a>, <a href="https://www.smh.com.au/national/more-covid-19-outbreaks-detected-in-hospitals-as-er-chief-isolates-20200709-p55akg">nine staff members</a> from the emergency department at Melbourne’s Northern Hospital, and two nurses at the <a href="https://www.theage.com.au/politics/federal/healthcare-workers-may-have-been-infected-in-staff-training-session-20200707-p559so">Royal Melbourne Hospital</a>.
Staff at several <a href="https://www.9news.com.au/national/coronavirus-victoria-covid19-clusters-melbourne-aged-care-facilities-altona-meadows/713ece5c-6e87-4eed-8cad-b5c6d4e410d0">aged care facilities</a> have also tested positive.
These cases have meant sending many health-care workers regarded as “close contacts” into home quarantine.
The Northern Hospital emergency department has reportedly had to <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-07-06/melbourne-northern-hospital-staff-contract-coronavirus/12428336">divert patients elsewhere</a>, while Brunswick Private Hospital (where four patients tested positive too) is <a href="https://www.news.com.au/lifestyle/health/health-problems/brunswick-private-hospital-shut-as-four-patients-and-staff-member-test-positive-to-coronavirus/news-story/1fcb6e6e0587fe47c496ab7af78b1945">closed to new admissions</a>.
Keeping health-care workers COVID-free is critical to delivering care to those who need it during a pandemic. So as Victoria’s second wave rolls on, we need to consider what more we can do to protect our health workers.
Why might this be happening?
In the absence of a vaccine, subsequent waves of COVID-19 have always been a possibility.
Health-care workers tend not to contract COVID-19 <a href="https://www.mja.com.au/journal/2020/healthcare-workers-covid-19-most-contract-it-away-work">from patients</a>, as appropriate personal protective equipment (PPE) is used in high risk encounters.
But health-care workers are normal people commuting to work and living and interacting in communities. So it’s more likely <a href="https://www.mja.com.au/journal/2020/healthcare-workers-covid-19-most-contract-it-away-work">they contract it outside work</a>.
Undetected, they can then bring it into the hospital or other health-care setting, putting fellow staff and vulnerable patients at risk.
What are the implications for health care?
At the most basic level, the specialised health-care workforce is core to health-care delivery; without nurses, doctors and allied health staff, there’s no health-care system.
Infections in this group — whether confirmed outbreaks or suspected contamination —will reduce health-care workforce capacity.
High rates of staff off work due to COVID-19 may also increase fatigue and burnout in the remaining workforce, adding to the burden.
The greater the scope of these outbreaks, the greater the strain on the affected hospitals and the health-care system. This will be compounded as they’re faced with increased demand due to COVID-19 cases in the community.
Australia has had time to prepare its workforce with additional skills and capabilities in critical care. But there are always concerns regarding potential <a href="https://www.pwc.com.au/important-problems/coronavirus-covid-19/australian-healthcare-workforce">workforce shortages in the height of a pandemic</a>, particularly in areas of specialised practice such as intensive care.
Especially in “hotspots”, as we weather this second wave, there remains a risk demand could outweigh supply.
What can the health system do to cope?
A number of possible interventions could increase system capacity and help manage demand.
This may include decreasing elective or non-urgent surgery, as we saw during the <a href="https://theconversation.com/the-coronavirus-ban-on-elective-surgeries-might-show-us-many-people-can-avoid-going-under-the-knife-135325">first wave</a> of the virus.
Increasing the use of virtual models of care including <a href="https://www.cochranelibrary.com/cdsr/doi/10.1002/14651858.CD007228.pub3/full">phone consultations and telehealth</a>, where appropriate, could also help ease the pressure. Quarantined frontline workers could provide virtual care through telephone support, such as helplines or other telehealth services.
Adapting care to minimise the movement and interaction of hospital staff across wards and sites is another important option. For example, some hospitals have shifted from a model where a team of doctors works across multiple wards to a small team of doctors providing care to only one ward.
Most hospitals have also set-up dedicated <a href="https://apps.who.int/iris/rest/bitstreams/1272399/retrieve">COVID wards</a> to screen patients for COVID-19 at the first point of contact with the health system.
What about routine testing for health workers?
To sustain a prolonged response to this crisis we need a healthy, COVID-19 free workforce. Especially given we know many positive cases <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7078829/">don’t experience symptoms</a>, we should be <a href="https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(20)30917-X/fulltext">mass testing health-care workers</a>.
To date, we’ve seen some testing of <a href="https://www.premier.vic.gov.au/major-coronavirus-testing-blitz-targets-100000/">asymptomatic health-care workers</a> in Victoria, but it has not been commonplace.
Increased routine screening of health-care workers, with or without suspected exposure, will increase the number of days away from work while staff wait for results, reducing service capacity. But the pay-off will be greater — it will limit COVID-19 spread.
Keeping our health-care heroes safe and well
From this week, staff at several major Melbourne hospitals have been required to wear masks <a href="https://www.theage.com.au/national/victoria/changing-circumstances-melbourne-hospital-workers-told-to-don-masks-20200707-p559qw">at all times</a> while at work. These precautions have previously been reserved for staff in areas of higher clinical risk such as emergency and intensive care.
This is in addition to a range of <a href="https://www.health.gov.au/news/health-alerts/novel-coronavirus-2019-ncov-health-alert/coronavirus-covid-19-advice-for-the-health-and-aged-care-sector/providing-health-care-face-to-face-during-covid-19">guidelines</a> health professionals follow to minimise the spread of COVID-19, including around hand hygiene, cleaning, PPE, and keeping physical distance from patients where possible.
But the responsibility to take precautions and stop the spread falls to all of us.
Hospital patients and visitors are also being encouraged to wear face masks.
In fact, everyone in Melbourne is now advised to <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-07-10/coronavirus-wearing-mask-advice-to-change-on-vic-covid19-threat/12441828">wear a mask</a> in public when social distancing is not possible. Hopefully this will go some way to protecting our health-care workers and the entire community.

<a href="https://theconversation.com/profiles/rochelle-wynne-998483">Rochelle Wynne</a>, Director, Western Sydney Nursing &amp; Midwifery Research Centre, <a href="https://theconversation.com/institutions/western-sydney-university-1092">Western Sydney University</a> and <a href="https://theconversation.com/profiles/caleb-ferguson-72">Caleb Ferguson</a>, Senior Research Fellow, Western Sydney Nursing &amp; Midwifery Research Centre, Western Sydney Local Health District &amp;, <a href="https://theconversation.com/institutions/western-sydney-university-1092">Western Sydney University</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/rising-coronavirus-cases-among-victorian-health-workers-could-threaten-our-pandemic-response-142375">original article</a>.
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Rising coronavirus cases among Victorian health workers could threaten our pandemic response

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A mortgagee unit in Collie, Western Australia has sold for $195,000.
Located at <a href="https://www.realestate.com.au/sold/property-unit-wa-collie-131364398" target="_blank">4/60 Venn Street</a>, the home comprises three bedrooms, a single bathroom, and double garage.
The unit features easy vehicle access to the double garage and privacy. 
Situated at the rear of the complex, it comes with user-friendly kitchen, alfresco area and reverse cycle split system.
Val Bronickis, from Elders Collie, listed the property.
 
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Collie, Western Australia mortgagee unit sold 

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Melbourne’s clearance rate dipped to 46 per cent at the weekend after the return to stage three restrictions.
There were 417 scheduled auctions but just 168 results reported to Domain.
Some 149 properties were withdrawn from auction.
It was 57 per cent on the prior weekend.
The Victorian current rules end August 19.
"Melbourne’s weekend auction market tracked sharply backwards at the weekend with predictably significant withdrawals dragging down the clearance rate to its lowest point since early May," Dr Andrew Wilson at My Housing Market said.  "Although the Melbourne market suffered dramatically from the reinstatement of the coronavirus lockdown this week, other capitals continued to perform solidly overall," he noted.
The number of properties selling before auction, rather than under the hammer, is on rise across Sydney.
Sydney’s preliminary clearance rate was 64 per cent, jumping from last week’s 62 per cent, after 452 scheduled auctions and 255 reported results. 
It included 67 auctions withdrawn across the city.
The top sale was the five-bedroom, double-storey home at 3/85 Raglan Street, Mosman (pictured in title) for $4.55 million through Belle Property agent Stefan Bertram.
The dearest in Melbourne was $2,802,500 in Carlton. The 1018 Drummond Street offering was a four bedroom house. 
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Melbourne’s clearance rate dips to 46 per cent after return to stage three restrictions

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Brisbane saw a fall in the incidence of profit-making resales in the March quarter, comprising 87 per cent of these transactions. This is down from 88 per cent in the December quarter, and 88.4 per cent in the March 2019 quarter.
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Source: CoreLogic Pain and Gain March Quarter 2020 report.
The house market continued to show strong returns relative to the unit market. Over the quarter, 94.6 per cent of houses saw a nominal gain compared with 63.8 per cent of units. This is due to the ongoing, divergent capital growth performance between houses and units. In the 5 years to March 2020 annualised growth across Brisbane houses was 2.7 per cent, compared to -0.8 per cent in units.
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These conditions also inform the loss making sales seen across the Brisbane Council Region. In the March quarter, 15.1 per cent of resales saw a loss. Of these loss-making sales, 88.3 per cent were units. It is also noteworthy that across the Brisbane council region, 66.0 per cent of loss making sales had been held by investors.
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Interestingly, the area with the highest portion of loss making sales was the Lockyer Valley Council region. This portion is off a small base, with only 21 sales in the quarter seeing a nominal decline at resale. Most of these were houses, and had a relatively lengthy median hold period of 9.7 years. However, the median loss on these properties was also relatively small, at $20,000.
While dwelling market demand may continue to be impacted by COVID-19, a bright spot for ongoing demand in the Queensland market is interstate migration. Over the past few years, Queensland has been the largest recipient of interstate migrants, who typically come from New South Wales or Victoria. The imposed lock down which has seen many adapt to working from home could create added demand for South East Queensland property from owner occupiers as demand returns to the economy. This is because SEQ offers a far more affordable housing price point compared with those in Sydney and Melbourne, and may have greater lifestyle appeal for some.
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Source: CoreLogic Pain and Gain March Quarter 2020 report.
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Brisbane sees a fall in the profit-making resales: CoreLogic Pain & Gain 

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To echo a similar sentiment to last month’s Month in Review, the Northern Territory is the safest place in the country, according to the June Herron Todd White (HTW) residential report. 
The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
"Our Chief Minister, Michael Gunner, is quotes as saying that the Northern Territory is now 'the envy of the country' and for good reason," the valuation firm sai.d 
"Firstly, only two new COVID-19 cases this month, both of whom were diagnosed while overseas and then returned home to Darwin, taking our total to 30. 
"Apart from the two recent cases who should both make a full recovery very soon, we still have no community transmission anywhere across the Northern Territory (source: Natasha Fyles, Health Minister, Northern Territory Government), a statistic championed to and throughout our community," the valuation firm said. 
On the back of this, the Northern Territory government has implemented its ground-breaking road map to the new normal (source: Secure NT) that was released on 30 April. This road map allows a slow but safe return to some normalcy across the Territory not only from a health and safety but an economic point of view.
Stage 2 was the most recent change on 15 May which saw pubs, clubs, gyms, some indoor gatherings, museums, open homes and inspections and other businesses of the like re-open, with an expected 1,500 people returning to work immediately (source: NT News). This was a welcome relief, not only as people enjoy the social interaction (from a safe distance) but also in getting the economic wheels to start turning.
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"As we start to see the easing of restrictions, how will this factor into the property market?
"In short, we are seeing a reduction in sales volumes, combined with a reduction in listings," the valuation firm said. 
The March 2020 quarter saw volumes fall by 27 per cent (source: REINT magazine), however as this data is captured pre-COVID-19, the June quarter will show a clearer picture as to the full effects of the virus and its impact.
"Commentary in the market is echoing last month’s view of a wait and see approach as we wade through the pandemic.
"With the return of open homes part of the easing of restrictions, hope remains that we may see an increase in transactions in the market," the valuation firm said. 
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One positive that has come from the virus is the rise in renovations and the associated wider reaching benefits of this, the report noted. 
A major factor in the Northern Territory has been the release of the Home Improvement Scheme. This scheme saw an initial $30 million of funding allocated to home and also business improvements where the government will give a voucher worth $4,000 if owners contribute at least $1,000 of their own money, or a voucher worth $6,000 if they contribute at least $2,000 of their own money with the idea being to get screwdriver ready projects out the door.
The scope of possible works that could be done is quite varied and only needs to be completed by someone who is a licenced trade, not related to the recipient of the grant (source: business recovery.nt.gov.au).
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The report suggests the uptake on this was enormous. Funding was pushed out to $100 million by the Northern Territory government with the idea of getting 20,000 applications and work to be undertaken over the next six to nine months, a great incentive for not only home improvements but a kick starter for trades and services.
Another great positive in this scheme is that investors can also benefit, the government making it clear from the onset that investors who own a home and are a resident in the Northern Territory could also benefit.
Speaking with local agents, renovated homes continue to draw good enquiry and with the easing of open home restrictions, this will only improve. 
Uptake of the scheme has also been varied, with homes in all areas and wide ranging price brackets taking up the opportunity to renovate and improve.
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Speaking locally, the preferred established locations are our northern suburbs, the report noted. 
Being in a tropical climate with proximity to the beach, preferences lean towards larger outdoor living areas or the added benefit of a pool.
<a href="https://www.realestate.com.au/sold/property-house-nt-anula-133034166" target="_blank">23 Yanyula Drive, Anula </a>(pictured below) is an example of a typical three- bedroom, one-bathroom home found in these, the HTW report noted. 
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With the added benefit of a pool and larger entertaining area, this renovated home sold for $585,000.
Compare this with properties without the pool or entertaining area that are currently for sale for anywhere up to $100,000 less in some locations.
There are however some minor drawbacks of the scheme. Any property owned in a trust or company name cannot apply and if a property is owned in joint names, one grant will be applied to both owners. Some works are excluded such as solar panels and works on a do-it-yourself basis.
"While these may frustrate some owners, we see great overall benefits for this scheme, not just for economic restart but the revitalisation of property in the Northern Territory as a whole," the valuation firm said. 
"Where to from here? As said in previous reviews, the matter of COVID-19 is still very much in the wait-and-see position. The Northern Territory has been tremendous in flattening the curve and we are now beginning to see the easing of restrictions as a result of the swift action taken.
"What does that mean for the property market?If we can continue on the current trajectory, with social distancing and also avoiding the second wave, we may see confidence return much sooner than expected with local sentiment already beginning to turn." 
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Darwin property market sees benefits of the Home Improvement Scheme: HTW residential 

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A mortgagee home in Woodroffe, an inner-city Darwin suburb of Palmerston, has come onto the market seeking $389,000
Just 2 months ago the vendors were seeking $399,000. 
Located at <a href="https://www.realestate.com.au/property-house-nt-woodroffe-133571298">62 Sibbald Crescent</a>, the single-level residence features three-bedrooms and two-bathrooms. 
Comprising of 898sqm, the home is set on a large block with a sizeable rear lawn and established gardens. 
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-05-14%20at%201.59.15%20pm.png" alt="">
The property is located close to the Palmerston town centre, schools and shops. 
Ray White’s Korgan Hucent has the listing. 
The median house price for <a href="/news">Woodroffe</a> is $332,500, according to CoreLogic data. 
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Woodroffe home set for mortgagee sale with reduced asking price

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The containment of COVID-19 has allowed the state government to put into action its roadmap for easing COVID-19 restrictions which was met with open arms for those in the property industry, according to the June Herron Todd White (HTW) residential report. 
The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
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At the time of writing, South Australia has registered only one new case of COVID-19 since 23 April and has become the first state to be free of any known COVID-19 cases.
As of 11 May, restrictions were eased on the number of attendees at open inspections and allowing on-site auctions to take place.There is a sense of optimism in the air.
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In terms of the numbers, days on the market for metropolitan Adelaide currently sits at 54 compared to 45 during the same period in 2019 whilst listing volumes nationally have trended lower, the report noted. 
"Interestingly dwelling values have been resilient recording a 0.4 per cent increase over the month of April.Agents are reporting a similar story indicating that stock is hard to find however buyers are still active in the market," the valuation firm said. 
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The motivations of those active in the market must be well tuned when considering a renovation. What motivates one market participant to throw on the overalls and pick up a paint brush can be vastly different to the next.
For owner-occupiers, a lack of space during working from home arrangements may have forced the hand to give a renovation project the green light whilst a minor renovation may make an investor’s rental property stand out from the crowd in a deepening rental market.
When undertaking renovations, owner-occupiers are willing to extend themselves to achieve a level of comfort and amenity required for a long stay. The thought process is spend now for what you want.
In 20 years’ time, the cost becomes negligible and you have benefited in lifestyle from the works undertaken. Conversely, investors seek out properties with good bones that need as little capital outlay as possible.Put simply, owner- occupiers will attempt to fulfil both wants and needs whilst investors look to fulfil needs.
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An example of this differential can be seen in the sales of <a href="https://www.realestate.com.au/sold/property-house-sa-parkside-133257550" target="_blank">10 Dunks Street, Parkside</a> (pictured above) and 42 Stamford Street, Parkside (pictured below).
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Each comprises a character stone dwelling on an approximately 350 square metre allotment. 
Selling in April 2020 for $1.29 million and representing owner-occupiers, 10 Dunks Street, Parkside has been fully renovated and extended comprising high quality fixtures and fittings across three levels of accommodation.
This property provides for the typical needs of a buyer and also the trimmings some in the market may want.
Conversely and representing investors, 42 Stamford Street, Parkside is currently listed for rent asking $520 per week and has had the floors polished, walls painted and the kitchen and bathrooms updated to an appealing standard.
This property has been brought to a standard acceptable in the market providing no more than the needs a potential occupant may seek.
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"Heritage restrictions and planning overlays catering to lower density development make the inner and middle rings ripe for those looking for a renovation project," the valuation firm said. 
The suburbs of Nailsworth, Kensington, Colonel Light Gardens and Mile End are each located within five kilometres of the Adelaide CBD and are characterised by early to mid-century homes on allotments ranging from 150 to 1000 square metres. 
Entry price points in these suburbs range between $450,000 and $850,000 with well-established and renovated homes ranging in price from $650,000 to $1 million plus.
Ripe for a renovation is the current listing of <a href="https://www.realestate.com.au/property-house-sa-kensington-133473982" target="_blank">14 Phillips Street, Kensington</a> (pictured below), which has been advertised to the market with an undisclosed asking price.
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The property comprises a brick bungalow disposed as two bedrooms and one bathroom on a 453 square metre allotment.
This property represents an entry level property in the suburb of Kensington.
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The report suggests renovating does not solely relate to detached dwellings. Strata units are popular with first home buyers and investors given the entry price point they provide.
The restrictive nature of a Strata Title means renovations can only take place within the four walls of the unit. This can be a good starting point for first time renovators as one can get a taste for the process whilst being limited in the extent of work that can be undertaken.
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Strata units are typically found in suburbs established between 1960 and 1970 and are characterised by cream brick walls and terracotta-tiled roofs. The Burnside council area in the metropolitan south-east is heavily populated with strata units.
Entry price points throughout the council area range between $225,000 and $325,000 whilst renovated units become available in the high $200,000s and can push up to the low $400,000s at the top end of the market.
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A representation of an entry level property is the sale of<a href="https://www.realestate.com.au/sold/property-unit-sa-rose+park-132382350" target="_blank"> 10/1A Grant Avenue, Rose Park</a> (pictured below) which achieved a sale price of $263,500.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/rose%20park.jpg" alt="">
This property comprised a first floor unit disposed as two bedrooms and one bathroom providing original fixtures and fittings throughout.
The property is well located being only a short walk to Victoria Race Course and Adelaide Parklands.
The upper end of market parameters is represented by 6/3 Talbot Street, Erindale (pictured below) which achieved a sale price of $430,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/erindale.jpg" alt="">
This is a fully renovated, free standing unit comprising two bedrooms and one bathroom. The unit has a double carport and private courtyard.
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When considering a renovation, construction costs and materials can be a topic hotly debated over the dining table. Construction costs appear to have remained stable over the past 12 months.
Costs can fluctuate depending on building size, quality and specification.Tastes in building materials continue to evolve with free-standing baths and glass window kitchen splash backs becoming popular.
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Brick veneer and rendered hebel construction remain most common for extensions whilst vinyl timber flooring and stone bench tops have become standard inclusions.
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"With an uncertain sales market we may in the short term begin to see a trend where home owners renovate what they have instead of seeking something else.
"This coupled with record low interest rates may provide the perfect excuse to get a project moving," the valuation firm said. 
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What motivates market participates to renovate in Adelaide?  HTW residential 

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Joel Robinson

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Staff reporter

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